By: Staff Writer
September 24, Colombo (LNW): A Stakeholder Consultation Meeting on the Earth Resources and Minerals Sector, held at the Institution of Engineers Sri Lanka, emphasized the country’s strategic focus on two key mineral resources—quartz and graphite—for 2024. The consultation highlighted a targeted approach for these minerals in 2024, with plans to address the development of other major minerals starting in 2025.
The primary objectives of the consultation were twofold: to increase foreign exchange income from mineral exports over the next five years, and to develop a comprehensive action plan for the mineral sector from 2025 to 2029. The meeting also reviewed the current state of value addition and explored opportunities for advanced technological applications to enhance the country’s mineral offerings.
The stakeholders agreed on a range of initiatives aimed at boosting the mineral sector. Chief among these was the establishment of a National Production Laboratory, equipped with state-of-the-art facilities for analytical solutions and high-tech product testing. The laboratory, with international accreditation, will cater to both local and international geology, minerals, metallurgical, and materials industries.
In a bid to boost foreign exchange revenue, the consultation set ambitious targets for increasing the export volumes of quartz and graphite. Current export earnings stand at USD 11.7 million and USD 7.8 million, respectively. By the end of the five-year period (2025-2029), the aim is to raise the export income for each mineral to USD 30 million.
The meeting also proposed easing restrictions on mineral exploitation, particularly for commonly available minerals like quartz. New regulations may allow individuals to exploit quartz on their own lands, fostering small-scale mining opportunities across the country.
From a chemical engineering perspective, stakeholders noted that secondary value addition through chemical processing is a capital-intensive and technologically advanced area. Sri Lanka currently lacks the infrastructure and technology for high-end processing, particularly for turning quartz into products like solar panels, fiber optic cables, and optical lenses. Attracting foreign investment and expertise for these advanced processes was seen as crucial for the sector’s future growth.
Graphite production was another key focus of the discussions. The current annual output of 2,500 metric tons is insufficient to attract large-scale foreign investment for high-tech industries, such as the production of carbon brushes for electric motors. The consultation proposed raising graphite production to 10,000 metric tons per year by 2029 to enhance investment appeal.
The stakeholder consultation laid the groundwork for a five-year plan to strengthen Sri Lanka’s mineral exports, with a focus on value addition and attracting foreign investment. While 2024 will see a concentration on quartz and graphite, the broader plan envisions a robust minerals sector driving economic growth and increasing the nation’s foreign exchange earnings in the years to come.
